47 Forest Ave · Cincinnati, OH 45220

$47,000

2 bd · 1.0 ba · 848 sqft · SingleFamily public records · 121 Days on market

Built 1890 3,223 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special! Full Rehab Opportunity!

Key facts

• Cincinnati location
• New construction
• Centrally located

Tags

• CINCINNATI LOCATION
• CENTRALLY LOCATED
• NEW CONSTRUCTION
• TAKEN DOWN TO THE STUDS
• NEWER ELECTRICAL
• NEWER WINDOWS

Property features AI

Finance

• Other: Residential zoning
• HOA & community: No HOA

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Natural gas; Sewer at street
• Home design: Traditional single-family home; One story
• Construction: Vinyl siding; Block foundation; Membrane roof; Built on a 0.074-acre lot
• Exterior features: Aluminum double-pane windows; Less than 0.5 acre lot

Interior

• Kitchen: Kitchen with unspecified/other features
• Bedrooms: Two bedrooms on the main level; Primary bedroom on the main level
• Bathrooms: One full bathroom on the main level
• Interior features: Four total rooms; Full basement with concrete floor and unfinished space; Busline nearby
• Laundry & utility: Basement utility space (unfinished)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $47k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• Recommended offer: $41k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.3% vs local median 3.9% in Cincinnati — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#130 in OH, #1,856 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment D, crime F.
• Cincinnati Public Schools (urban): math 25% / reading 36% proficiency, ranked #581 of 656 in OH (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 36 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 801 units permitted in Hamilton County in 2024 (190 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $325 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.4% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $41,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.39% ✓
• Cap rate: 20.30%
• Cash-on-cash: 50.03%
• DSCR: 3.23
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $115,328
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3549 Lossing St	0.06mi	2/2.0	722 (-15%)	18mo	$113,500	$157	53
3537 Vinecrest Pl	0.25mi	2/1.0	941 (+11%)	23mo	$61,000	$65	50
517 Glenwood Ave	0.65mi	2/1.5	956 (+13%)	12mo	$130,000	$136	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.41% rent growth · sell at horizon

5-year hold

• IRR: 38.9%
• Equity multiple: 2.60×
• Total profit: $20,991
• Equity at exit: $7,008

10-year hold

• IRR: 43.9%
• Equity multiple: 4.63×
• Total profit: $47,825
• Equity at exit: $4,064

Cash invested: $13,160 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 45220

• Rents YoY: 0.4%
• Active inventory: 36
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,126 high
• Mortgage (P&I): −$246
• Tax from tax record: −$75 /mo · $895/yr
• Insurance: −$20
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $493

Break-even live

Break-even rent $501

Max offer price $47,000

Occupancy floor 51%

Sensitivity live

Price	-10% $520	-5% $506	+0% $493	+5% $480	+10% $466
Rent	-10% $404	-5% $449	+0% $493	+5% $538	+10% $582
Rate	-1.0pp $517	-0.5pp $505	base $493	+0.5pp $481	+1.0pp $469

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $11,750
• Closing costs: $1,410
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3571 Vine St Unit 3 Cincinnati, OH	1.0	1.0	525	$725	$1.38	24d	1	0.21mi
262 Irwin Pl Cincinnati, OH	2.0	1.0	850	$1,420	$1.67	24d	1	0.24mi
216 Rockdale Ave Unit 2 Cincinnati, OH	1.0	1.0	750	$925	$1.23	21d	1	0.33mi
145 Glenridge Pl Unit D Cincinnati, OH	1.0	1.0	700	$825	$1.18	5d	1	0.47mi
39 Glen Este Pl Fl 1 Cincinnati, OH	2.0	1.0	900	$1,150	$1.28	24d	1	0.48mi
3583 Alaska Ave Cincinnati, OH	1.0–2.0	1.0	839	$1,120	$1.33	4d	32	0.50mi
118 Glenridge Pl Unit D Cincinnati, OH	1.0	1.0	633	$795	$1.26	24d	1	0.51mi
132 Louis Ave Apt C Cincinnati, OH	2.0	1.0	1050	$1,000	$0.95	24d	1	0.54mi
3872 Vine St Unit 3 Cincinnati, OH	1.0	1.0	700	$1,100	$1.57	5d	1	0.56mi
249 Senator Pl Unit 249-12 Cincinnati, OH	2.0	1.0	542	$1,095	$2.02	24d	1	0.56mi
310 Bryant Ave Cincinnati, OH	1.0	1.0	750	$995	$1.33	24d	1	0.60mi
3545 Harvey Ave Unit 2100 Cincinnati, OH	2.0	1.0	660	$1,050	$1.59	15d	1	0.61mi
3549 Harvey Ave Apt 2085 Cincinnati, OH	3.0	1.0	900	$1,325	$1.47	24d	1	0.63mi
3549 Harvey Ave Unit 2089 Cincinnati, OH	2.0	1.0	800	$995	$1.24	15d	1	0.63mi
353 McAlpin Ave Unit 353-05 Cincinnati, OH	1.0	1.0	670	$895	$1.34	4d	1	0.65mi
562 Glenwood Ave Unit 1 Cincinnati, OH	2.0	1.0	1075	$1,160	$1.08	15d	1	0.70mi
566 Glenwood Ave Unit 5 Cincinnati, OH	2.0	1.0	1100	$1,095	$1.00	4d	1	0.70mi
3239 Bishop St Unit 3239-11 Cincinnati, OH	1.0	1.0	690	$995	$1.44	24d	1	0.71mi
3227 Jefferson Ave Unit 3227-01 Cincinnati, OH	2.0	1.0	890	$1,345	$1.51	24d	1	0.71mi
564 Glenwood Ave Unit 24 Cincinnati, OH	1.0	1.0	811	$895	$1.10	15d	1	0.71mi
332 Ludlow Ave Cincinnati, OH	2.0	1.0	579	$1,095	$1.89	5d	10	0.72mi
3227 Bishop St Unit 3227-02 Cincinnati, OH	2.0	2.0	718	$1,495	$2.08	5d	1	0.73mi
3227 Bishop St Unit 3227-06 Cincinnati, OH	2.0	2.0	718	$1,595	$2.22	24d	1	0.73mi
532 Rockdale Ave Unit 1 Cincinnati, OH	2.0	1.0	658	$1,095	$1.66	24d	1	0.74mi
3420 Middleton Ave Cincinnati, OH	1.0	1.0	1000	$1,100	$1.10	24d	1	0.77mi
3970 Vine St Cincinnati, OH	1.0	1.0	800	$750	$0.94	24d	1	0.78mi
116 Clinton Springs Ave Unit 3 Cincinnati, OH	1.0	1.0	900	$850	$0.94	22d	1	0.79mi
5 E Mitchell Ave Unit 4 Cincinnati, OH	1.0	1.0	1000	$825	$0.82	24d	1	0.81mi
3404 Whitfield Ave Cincinnati, OH	2.0	1.0	1291	$1,595	$1.23	5d	55	0.84mi
458 Wood Ave Unit 458-05 Cincinnati, OH	1.0	1.0	550	$895	$1.63	5d	1	0.85mi
3141 Bishop St Unit 3 Cincinnati, OH	2.0	1.0	900	$1,100	$1.22	24d	1	0.86mi
440 Ludlow Ave Unit 440-11 Cincinnati, OH	2.0	1.0	655	$1,195	$1.82	24d	1	0.88mi
3566 Estes Pl Unit 3 Cincinnati, OH	1.0	1.0	743	$980	$1.32	15d	1	0.88mi
3566 Estes Pl Unit 3 Cincinnati, OH	1.0	1.0	743	$980	$1.32	24d	1	0.88mi
4237 Vine St Unit 3 Cincinnati, OH	1.0	1.0	710	$825	$1.16	24d	1	0.91mi
4237 Vine St Unit 2 Cincinnati, OH	1.0	1.0	724	$925	$1.28	24d	1	0.91mi
518 Clinton Springs Ave Unit 3 Cincinnati, OH	1.0	1.0	600	$850	$1.42	22d	1	0.92mi
500 Lafayette Ave Unit 500-202 Cincinnati, OH	1.0	1.0	640	$1,595	$2.49	24d	1	0.94mi
638 Greenwood Ave Cincinnati, OH	1.0	1.0	700	$795	$1.14	24d	1	0.95mi
3346 Sherlock Ave Cincinnati, OH	1.0	1.0	800	$1,275	$1.59	24d	1	0.95mi

Listing history 31 events

1. 2026-06-21
   days on market $47,000 Active 121 DOM
2. 2026-06-18
   days on market $47,000 Active 118 DOM
3. 2026-06-17
   days on market $47,000 Active 117 DOM
4. 2026-06-16
   days on market $47,000 Active 116 DOM
5. 2026-06-15
   days on market $47,000 Active 115 DOM
6. 2026-06-13
   days on market $47,000 Active 113 DOM
7. 2026-06-13
   days on market $47,000 Active 112 DOM
8. 2026-06-09
   days on market $47,000 Active 109 DOM
9. 2026-06-08
   days on market $47,000 Active 108 DOM
10. 2026-06-07
    days on market $47,000 Active 107 DOM
11. 2026-06-03
    days on market $47,000 Active 103 DOM
12. 2026-06-02
    days on market $47,000 Active 102 DOM
13. 2026-06-01
    days on market $47,000 Active 101 DOM
14. 2026-05-31
    days on market $47,000 Active 100 DOM
15. 2026-02-18
    listed $47,000 Active
16. 2025-09-30
    historical 41-char remark

    Show marketing remark (41 chars)

    Investor Special! Full Rehab Opportunity!

17. 2025-08-21
    status Active 41-char remark

    Show marketing remark (41 chars)

    Investor Special! Full Rehab Opportunity!

18. 2025-08-08
    historical Contingency Pending 41-char remark

    Show marketing remark (41 chars)

    Investor Special! Full Rehab Opportunity!

19. 2025-06-17
    status Active 41-char remark

    Show marketing remark (41 chars)

    Investor Special! Full Rehab Opportunity!

20. 2025-05-27
    historical Contingency Pending 41-char remark

    Show marketing remark (41 chars)

    Investor Special! Full Rehab Opportunity!

21. 2025-05-08
    listed $48,000 Active 41-char remark

    Show marketing remark (41 chars)

    Investor Special! Full Rehab Opportunity!

22. 2024-05-31
    historical 296-char remark

    Show marketing remark (296 chars)

    Motivated seller has investment property centrally located in the heart of the city. Property located across from the new construction at the Cincinnati Zoo. Newer electric, property needs additional renovations. MLS info believed to be accurate but not guaranteed. Property sold as is, where is.

23. 2023-11-13
    listed $60,000 Active 296-char remark

    Show marketing remark (296 chars)

    Motivated seller has investment property centrally located in the heart of the city. Property located across from the new construction at the Cincinnati Zoo. Newer electric, property needs additional renovations. MLS info believed to be accurate but not guaranteed. Property sold as is, where is.

24. 2023-10-31
    historical
25. 2023-04-25
    listed $75,000 Active
26. 2023-01-24
    soldstatus $40,000 Closed
27. 2023-01-19
    status Pending
28. 2022-11-04
    historical Contingency Pending
29. 2022-06-21
    listed $40,000 Active
30. 2016-05-23
    soldstatus $5,501
31. 1995-01-03
    soldstatus $6,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $895 · $75/mo
• Projected year-2 tax: $895 · $75/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,507
• − Mortgage interest: −$2,633
• − Property taxes: −$895
• − Insurance: −$902
• − Repairs & maintenance: −$1,081
• − Management: −$1,081
• − Depreciation: −$1,367
• Taxable income: $5,550
• Est. tax owed @ 24.0%: −$1,332
• After-tax cash flow: $4,585/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Cincinnati Public Schools
• NCES district ID: 3904375
• Math proficiency: 25% ▼ -19.00%
• Reading proficiency: 36% ▼ -14.00%
• Median HH income: $35,743
• Composite: 25.21/100
• National rank: #7508
• State rank: #581 of 656 in OH

Livability — Cincinnati

• Score: 80/100
• State rank: #130
• US rank: #1856

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D Housing A+ Health & safety B+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cincinnati, OH
• County: Hamilton County · 701,295 people
• City population: 505,555
• Metro: Cincinnati, OH-KY-IN
• Population (ZIP): 14,109
• Household income: $53,440
• Rent vs Own: 71.0% rent · 29.0% own
• Severe rent burden: 1186.0

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 826,054 people
• By 2030: 830,947 · +0.6%
• By 2040: 832,319 · +0.8%
• By 2050: 822,428 · -0.4%
• By 2075: 788,688 · -4.5%
• By 2100: 710,674 · -14.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 60% Black 20% Asian 14% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 2% Serbian 1% Italian 1%
• Foreign-born: 19% · China, Canada, Vietnam
• Languages at home: 80% English-only · Other Indo-European 6% Chinese 3% Spanish 2%

Political lean MEDSL · Hamilton

• 2024 margin: D (+14.9) · D 57.0% · R 42.1%
• 2008→2024 swing: +7.9pp toward D · 2008: 7.0pp · 2024: 14.9pp
• All cycles: 2024: D+14.9 2020: D+15.9 2016: D+9.5 2012: D+4.9 2008: D+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -196.81%
• Current HPI: 246.0631
• Rent YoY: ▲ 0.41%
• Metro: Cincinnati, OH-KY-IN
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+683.3% since first listed

17 events — show timeline

• 2026-02-18 Listed $47,000 Cincy MLS
• 2025-09-30 Listing Removed — Cincy MLS
• 2025-08-21 Relisted — Cincy MLS
• 2025-08-08 Contingent — Cincy MLS
• 2025-06-17 Relisted — Cincy MLS
• 2025-05-27 Contingent — Cincy MLS
• 2025-05-08 Listed $48,000 Cincy MLS
• 2024-05-31 Listing Removed — Cincy MLS
• 2023-11-13 Listed $60,000 Cincy MLS
• 2023-10-31 Listing Removed — Cincy MLS
• 2023-04-25 Listed $75,000 Cincy MLS
• 2023-01-24 Sold (MLS) $40,000 Cincy MLS
• 2023-01-19 Pending — Cincy MLS
• 2022-11-04 Contingent — Cincy MLS
• 2022-06-21 Listed $40,000 Cincy MLS
• 2016-05-23 Sold (Public Records) $5,501 Public Records
• 1995-01-03 Sold (Public Records) $6,000 Public Records

Property tax history

+11.4%/yr

Latest (2025): $895 · +0.1% YoY. Source: county tax records.